VIENNA – Russian auto maker OAO IzhAvto, based in Izhevsk, has filed for bankruptcy, saying it cannot repay its debt amid the global economic downturn. IzhAvto appears to owe about RR11.3 billion ($368 million), although some sources say the company’s debt is more than RR14 billion ($456 million). The auto maker will try to restructure its financing, rather than fold operations, sources say. The car maker assembles the first-generation Kia Spectra and Sorento cross/utility vehicle from ...
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